📊 Trade Setup: NEWT/USDT (15m Chart)

💰 Current Price: $0.4901 (+63.37%)

📈 24h High/Low: $0.8600 / $0.3000

📉 Volume & RSI Analysis

🔍 Trade Idea: Potential Reversal Setup

NEWT/USDT saw a massive pump from $0.30 to $0.86, followed by a strong correction back to the $0.49 level. This indicates the initial hype has cooled down, and the price is now consolidating.

✅ Reasons to Consider a Trade:

Oversold RSI (24.04)

RSI(6) shows extreme oversold conditions. This could signal a short-term bounce or reversal opportunity.

Support Zone Around $0.48–$0.49

This zone has been tested multiple times in the past few candles and seems to be acting as interim support.

Declining Selling Volume

After the major sell-off, volume is gradually decreasing, suggesting sellers may be losing momentum.

MA Convergence

MA(5) and MA(10) are flattening, indicating a potential base forming for a reversal if bulls step in.

📌 Entry: Around $0.485–$0.490

🎯 Target 1: $0.52

🎯 Target 2: $0.60 (if momentum builds)

🛑 Stop Loss: Below $0.47 (recent low)

⚠️ Risk Management Note:

Always use proper position sizing. This trade idea is based on short-term momentum and should be monitored actively.

💬 What do you think? Will NEWT bounce back from here or dip further? Let’s discuss 👇

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